Answer:
d.$133,600
Explanation:
Credit sales in January= $120,000 x 80% = $96,000
Credit sales in February = $140,000 x 80% = $112,000
Collections from January credit sales ($96,000 x 40%)$38,400
Add: Collections from March credit sales ($112,000 x 60%) $67,200
Add: Cash sales in March ($140,000 x 20%) $28,000
Total collections in February $133,600